Easy- As interest rates rise the cost to borrow becomes more expensive.

With closing costs of purchasing (Loans are expensive) and closing costs of selling, you wont recoup your money most likely in just 2-3 years. 

This way they know the pain of vacancies and other expenses.

I would be a ridiculously long and expensive flip.

That tends to put me at 80-85% of most asking prices with all my expenses and 20% down conventional financing.Kevin

I have had some painting work done for my rental which I want to claim as a maintenance expense.

After looking at some info on cash out refinancing, I am now considering this as it would be a strong rental in a great area.My situation:This would be my 3rd  buy and hold...1 rental, 1 rv storage yard and this property.I have used a heloc for the 20% on each property but now if I hold this one traditionally my cash would not be enough to do another deal.I have flipped 1 house earlier this year with the intention of doing a few more to draw the heloc down to nothing by end of next year.If I do a cash out on this one I may not be able to pull all of my initial 20%/rehab out, but would be covering the notes/expenses and cash flowing some each month with a long term asset.

What are the expenses? 

I might make an exception on credit score if it's related to old medical expenses.

Cost of capital is more expensive.